1795: Early on D-Street | Nifty may surpass 11,550 as long as index stays above 11,333
  • 16/10/2019
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1795: Early on D-Street | Nifty may surpass 11,550 as long as index stays above 11,333

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Descripción de 1795: Early on D-Street | Nifty may surpass 11,550 as long as index stays above 11,333

A close above 11400 levels gives bulls the chance to head towards 11,500-11,550 levels which have acted as crucial resistance levels for the index, and a swing high made on October 1 (11,554).

The final tally on D-Street -- the S&P BSE Sensex rose 291 points to 38,506 while the Nifty50 closed 87 points higher at 11,428 on Tuesday.

So, what led to the optimism – positive commentary from the trade war front boosted sentiment. Apart from positive global cues and ease in crude oil prices, outperformance in domestic auto stocks in expectation of festival demand further lifted the sentiment.

On the institutional front, FIIs have turned net buyers in the last two days given stability in the global market which is a positive sign and is adding to the optimism.

FPIs were net buyers to the tune of nearly Rs 900 cr on Monday, and over Rs 700 cr on Friday, provisional data showed.

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